|
|
Correlation analysis helps identify the relationship between two or more companies, showing how they move about each other. It helps assess patterns, manage risk, and improve decision-making by revealing which assets correlate positively or negatively.
|
|
|
|
| Symbol | Correlation |
| |
-0.341449 |
| |
-0.341482 |
| |
-0.341997 |
| |
-0.342436 |
| |
-0.342543 |
| |
-0.342849 |
| |
-0.343057 |
| |
-0.343095 |
| |
-0.343161 |
| |
-0.343356 |
| |
-0.343753 |
| |
-0.344273 |
| |
-0.344273 |
| |
-0.344414 |
| |
-0.344417 |
| |
-0.344444 |
| |
-0.344708 |
| |
-0.344719 |
| |
-0.345539 |
| |
-0.345606 |
| |
-0.345903 |
| |
-0.345905 |
| |
-0.346012 |
| |
-0.346248 |
| |
-0.346493 |
|
|
|
|
|
 Stock Correlation - Explanation
Stock Correlation is the statistical measure of the relationship between two stocks. The correlation coefficient ranges between -1 and +1. A correlation of +1 implies that the two stocks will move in the same direction 100% of the time. A correlation of -1 implies the two stocks will move in the opposite direction 100% of the time. A correlation of zero implies that the relationship between the stocks is completely random. Correlations do not always remain stable and can even change on a daily basis. Correlation analysis can help you to diversify your positions. An imperfect correlation between two different stocks allows for more diversification and marginally lower risk.
|
